BUYERS - BE PREPARED

By
Real Estate Agent with Dunnigan, Realtors, Sacramento (916) 425-9715 CalBRE # 01188158

This real estate market is not for the faint of heart.  Competition has made negotiating an art form.  If you are considering purchasing a home, be certain that you approach your purchase with every possible bit of ammunition you can muster. Here is a list of the "must have's" in this market:

  • An experienced REALTOR
  • An experienced REALTOR
  • An experienced REALTOR
  • A lender who is responsive and knowledgeable...this does NOT necessarily mean your best friend or your uncle.Buyers negotiating
  • The very best loan for which you can qualify.  FHA, while wonderful, is the first offer to be eliminated in a multiple offer situation.  If you can go conventional, DO!
  • If you must go FHA, consider finding homes that have been on the market a while. There will be less, if any competition and you will have a seller who is much more motivated.
  • Have as much money saved as possible in case that appraisal doesn't come in.  You will be able to make up the difference between the appraised amount and the offered amount if you really want the house.
  • Be informed.  Listen to your REALTOR.  They have been in the trenches, working this market.  They know what it is going to take to get you that house.  As was mentioned first, negotiating has become a true art form in this market and you need someone who understands what it is going to take to make that home your own.

This is a tough market.  There are far too few homes to purchase and far too many buyers that want them.  Be ready for the possibility that you may not get the first house you write an offer on.  But, don't give up...hang in there and the reward will be your perfect home!

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Rainmaker
1,182,695
Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Paula, Amen. The shortest of inventory in good neighborhoods has created multiple offer situations around the country. Buyers be armed. Good information.

Jul 18, 2012 10:15 AM #1
Rainmaker
177,920
Erv Fleishman
Realty Associates - Boca Raton, FL
Luxury Prop Specialist Realty Associates

Tough business, tough environment, tough times. 

This too shall come to pass. 

PUt the first bid in at the right price. 

Jul 18, 2012 10:40 AM #2
Rainmaker
262,692
Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Adrian~
I know in Sacramento, that is certainly the case!

Hi Erv~
Couldn't have said it better myself!

Jul 18, 2012 03:59 PM #3
Rainmaker
1,777,886
Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

Paula - the first three are most important.

Sacramento buyers need to take a good look at this list!

Jul 18, 2012 05:10 PM #4
Rainmaker
519,225
Harrison K. Long
HomeSmart, Evergreen Realty - Irvine, CA
REALTOR , GRI, Broker associate, Attorney

Paula ... I like it that your first, second and third things buyers need in this market is "an EXPERIENCED REALTOR", and you are so right about that.

Jul 20, 2012 08:33 AM #5
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Rainmaker
262,692

Paula Swayne

Realtor-Land Park, East Sac & Curtis Park -Dunniga
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